Novartis AG (NYSE:NVS) Position Increased by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC raised its stake in Novartis AG (NYSE:NVS) by 29.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,167 shares of the company’s stock after buying an additional 5,052 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Novartis were worth $2,550,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Raymond James & Associates lifted its holdings in shares of Novartis by 1.3% during the second quarter. Raymond James & Associates now owns 536,607 shares of the company’s stock valued at $57,127,000 after purchasing an additional 6,767 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Novartis in the second quarter worth about $15,044,000. O Shaughnessy Asset Management LLC increased its position in shares of Novartis by 6.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 180,764 shares of the company’s stock worth $17,485,000 after acquiring an additional 11,080 shares in the last quarter. Integral Health Asset Management LLC raised its holdings in shares of Novartis by 33.3% during the second quarter. Integral Health Asset Management LLC now owns 300,000 shares of the company’s stock valued at $31,938,000 after acquiring an additional 75,000 shares during the period. Finally, FORA Capital LLC purchased a new stake in shares of Novartis in the 1st quarter valued at approximately $2,968,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NVS. The Goldman Sachs Group reiterated a “neutral” rating and set a $121.00 price objective (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a report on Friday, July 19th. Finally, Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $120.70.

Novartis Price Performance

Shares of NVS opened at $113.16 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The firm has a market cap of $231.30 billion, a PE ratio of 15.27, a PEG ratio of 1.66 and a beta of 0.57. The firm’s 50 day moving average price is $116.44 and its 200 day moving average price is $108.39. Novartis AG has a twelve month low of $92.19 and a twelve month high of $120.92.

About Novartis

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.